The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-30
-.THE STATE Of TRADE.
FOREIGN COMMERCE STILL UN.
SATISFACTORY.
Businefs Char acterized by Uncer.
tainty and Besitati0n-Busi-
ness Failures.

NhW lChk, July ~ - II. W. Duh N
Co., In their weekly review OF trade,
say: Foreign commerce Is still I'M
satisfactory, while In domestic trade
the usual hummer dullnets is increas-
ed by a var ety of causes. Large bank
clesrisgs and railroad earnings fail to
reflect the present state Of business,
which is in many branches Character
lied by uucer ainty ard hesitation.
Clearings represent: (D, speculative
dealinSs; (2), statements on business
done from ono 10 four month. ago;
(3), current CAL trsns .ctions-so that
activity 10 spe, ulstion or large pay
ments on past business often swell
clesriBgs when new legitimate busi-
ress is decreasing in volume. Rail-
road earn riga, ei, c, the interstate law
sff scted rates, afford no reliable indi.
satifn Of the Volume of traffic, and
publication OF tonnage statistics has
been to laree extent suspended,
which has significance.
Low prices, delay in the movement
Of wheat, and injury to corn, hay and
some miuor crops, produces uncer-
tsinty. Meanwhile, foreign imports
ct New YORK continue larger than last
year, while exports for four weeks past
have been 8 per cent. smaller, and Of.
fetal reports show sn increase OF 81.
coo, GOO Tor June Ia all imports, sgainst
decrease Of nearly SS.C00,OC0 In all
exports.
For three months ending with June
the excees of merchandise imports
was s44, 1888, 382. Wheat, corn, Gate,
oil, beef and hogs are lower than
week ago Red winter wheat, at 79}c
ut New YoIk, the lowest July price
On record, compared with 10 to 7si in
November aud December, 1884, but
with that exception no lower price
has been recorded In any month for
six,y-two years.
Corn at As cents at New York, and
oats at SO cents and beef q, an average
ofs4 35. does not encourages farmers to
buy largely Of the products OF other
industries. Speculation In cotton
halts since syndicate failures. hut
prices wtaktd again today, and coffee
yields shade, dealers meeting light
and uncertain dietribu,ive demand.
Sugar rises little with the publi-
cation Of bulish etstisiics, spice deal
ers complain that the consumers do
not come up Ia time, and the handlers
of rice are not overwork1d.
Oil fell to sole, but has recovered a
little. Goal agents announce an adj
vance OF Zoe for August brtts, and
that trade "a supported by an incress-
ing demand.
Cotton goods meet an unusually
good demand, and prices are stiff.
In wooltns TIE orders scarcely
suffice 10 op4n the market, except In
cheviots, which move a. prices not
higher than last year. In drees goods
q fair trade Is noied.
Interior reports neprly oil NOE ex.
isting dullness, with hopes Of large
trade hereafter. Money is in only fair
demand, With no noteworthy chsngs
in rates, and collections fair. with i'm.
provement Ut one or two points. The
speculation In tobacco begins 10
advance prices, and the rubber com.
bination Of the coke etrike sets most
OF the iron furnaces at wo,k, and yet
Il is observed that the actual corsump.
ton OF pig iron wss smaller for the
hrst half Of 1887 thsn for the last hall
Of 1886.
Stocks have been depressed, with
signs Of weakness on the part Of the
holders The treasury took In Sl2,-
100000 more then II paid out during
the past week, but money Is easy ct
per cent, ana foreign exchange unal.
tered. The recent decisions of the
Interstate Commission have net cleared
up the more embarrassing que.tions
regarding rates on competitive freight,
and chaIg,s OF rate cutting on trunk
lines indicate want cf agreement 10
construction OF the law, with some
disappointment 40 TO the volume oil
traffic. The outlook is affected In
some districts by injury to crops from
drouth or storms, but all Southern
reporle continue especially favoiab.e
as 10 cotton.
Less Ia heard OF real co.
tate speculation at tho Yves,
and South, but a. several
points, a. at Omaha, II 10 noticed that
heavy building operations are in pro-
gress. The uantier Of floating into
fixed capital has not yet ceaeed.
Busineis failures for the last seven
days, number, for the United States,
1852; for Canada, %; total, 1884,, com.
pared With l72 last We y and 1872 for
the corresponding WerE { last year.